Court : Andhra Pradesh
Reported in : 1997(4)ALT11
..... necessary to look upon the provisions of contract of bailment on the proposition of law that the contract of hire purchase is analogous to the contract of bailment. under section 18 of the hire purchase act, 1972 it is clearly provided as under:'18 (1) where a hirer makes more than one default in the ..... at a finding that in case of default by the hirer, the owner was entitled to terminate the hire purchase agreement and recover possession and out of the sale proceeds the ..... that any default of the terms and conditions of the hire purchase agreement would entitle the owner to take possession and forfeit the amount if any paid by the hirer.7. the trial judge has referred to several sections of the hire purchase act, 1972 in paragraph 8 of his impugned judgment, and arrived ..... payment of hire as provided in the hire-purchase agreement then, subject to the provision of section 21 and after giving the ..... the hirer to hand over the vacant possession of the suit shed amply and substantially meets with the requirement of section 18 of the hire purchase act, and therefore, there could be no constraint on directing the respondent to hand over the vacant possession of the suit shed to the owner .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 2001VIIAD(SC)75; AIR2001SC3721; 2001(2)ALT(Cri)291; 2001(3)ARBLR497(SC); II(2007)CPJ41(SC); 2001CriLJ4255; JT2001(7)SC226; 2002MPLJ321(SC); RLW2001(3)SC405; 2001(6)SCALE29;
..... , is not interest but represents a sum which the hirer has to pay for the privilege of being allowed to discharge the purchase price of goods by instalments.6. though in india the parliament has passed a hire purchase act, 1972, the same has not been notified in the official gazette by the central govt. so far. an initial notification was issued and the same ..... was withdrawn later. the rules relating to hire purchase agreements are delineated by the decisions of higher courts. there are series of decisions of this ..... :-'it would seem that so long as the hirer is in possession of the goods they belong to him for the purpose of the act [the theft act, 1968] even though his possession is unlawful, e.g. because the hire-purchase agreement has come to an end. if the owner has an enforceable right to possession then he will not be guilty of theft ..... ,000/- was dishonoured by the bank and the appellants had filed a criminal complaint under section 138 of the negotiable instruments act.5. hire-purchase agreements are executory contracts under which the goods are let on hire and the hirer has an option to purchase in accordance with the terms of the agreement. these types of agreements were originally entered into between the dealer and .....Tag this Judgment!
Court : Delhi
Reported in : 153(2008)DLT503; 2008(106)DRJ893
..... e. 60 days.19. the shorter oxford english dictionary defines 'hire', inter alia, as 'payment under contract for the use of something' (emphasis suppied). 'hire purchase system' is defined as 'by which something hired becomes the hirer's after a certain number of payments'. though the provisions of the hire purchase act 1972 are not squarely applicable, as i am concerned with a ..... transaction relating to immovable property and not to that of goods, the same principle can be borrowed from the said act to understand and appreciate the hire purchase system applicable in a case like the present. the expression ..... 'hirer' has been defined to mean 'the person who obtains and has obtained the possession of goods from a owner under a hire purchase agreement...'. 'hire purchase agreement' is defined to include an agreement under which ..... arora v. dda the petitioner had duly paid the amount as to when payable under the allotment-cum-demand letter. the petitioner was required to pay only the hire purchase instalments. the dda wrongfully cancelled the allotment and hence the petitioner could not make payment in respect of the instalments. the respondent subsequently accepted their error and .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2003(3)ALD700; 2003(3)ALT562; 2003CriLJ3613
..... owner can alone be treated as owner. the limited protection given to the owner is as contained in sub-sections (2) to (5) of section 51 of the m.v. act. the position is not different even in the hire purchase act, 1972.14. by reason of clauses in the agreement, a financier is deemed to be the owner only for the purpose of ..... hire purchase agreement and not for the purpose of the law under the m.v. act. if the financier is deemed to be a registered owner, which is not the case under the m.v ..... , ms. ramani, submits that the petitioner being the financier has to be considered as the owner of the vehicle only for the purpose of hire purchase agreement subject to the provisions of the motor vehicles act, 1988 ('the m.v.act' for brevity). for all purposes, the petitioner cannot be deemed to be the owner of the vehicle. for the purpose of section 12 ..... question10. for resolving the controversy as to who is the owner of the vehicle which was financed by a finance company and covered by hire purchase agreement, it is necessary to refer to certain provisions of the m.v. act. section 2(30) defines 'owner' as to mean a person in whose name a motor vehicle stands registered, and where such person is .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2005(2)ALD(Cri)676; 2005CriLJ3601
..... contractual position, whether the right of the financier to take possession of the vehicle is absolute or is subject to conditions ?9. hire purchase act, 1972 is an act to define and regulate the rights and duties of parties to hire-purchase agreements. it is comprehensive legislation, which shall come into force as and when the central government by notification in the gazette notifies the ..... government by issuing a notification appointing a date for commencement, the rights and liabilities between the owner and hirer under an agreement of hire-purchase must necessarily be governed by the terms of the agreement. under the provisions of hire purchase act, 1972 especially sections 18, 19, 20 and 26, a hirer has a right to notice before termination of the agreement, a right ..... cri lj 4255) (supra), made a reference to this aspect of the matter. it is high time that the central government be advised to bring into force the hire-purchase act, 1972 as expeditiously as possible having regard to the economic reforms which script and guide indian economic development.15. when a hirer fails to pay the instalments or ..... shown as registered owner can alone be treated as owner. the position is not different even in the hire-purchase act, 1972.21. generally, in the definition clause of the hire-purchase agreement, the financier is described as owner. however, for the purpose of motor vehicle act, the person in whose name the vehicle is registered by registering authority and the person who is in .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : 88CompCas821(P& H)
..... goods are let on hire and under which the hirer has an option to purchase them in accordance with the terms of the agreement ..... 3059, which were mentioned in the hire-purchase agreements were in fact the property of the appellant-company. in the light of this statement, it is not possible to hold that the hire-purchase agreements were valid documents. a hire-purchase agreement has been defined in section 2(c) of the hire-purchase act, 1972, as under ;' 'hire-purchase agreement' means an agreement under which ..... any authorisation by the appellant company or by its board of directors, sharvshri gurdial singh longia and amar singh could not enter into any hire-purchase agreement with the petitioning companies. the hire-purchase agreements were per se invalid and unenforceable. it is unfortunate that a fact which is patent on record and uncontrovertible was not pressed ..... ') from the year 1972, till april 11, 1980, and thereafter birender singh bala, son of bachan singh bala, took over charge as managing director.4. roopixagar credit and investment pvt. ltd., ropar, bachan motor financiers pvt. ltd., ropar, and bala financiers pvt. ltd., ropar, entered into hire-purchase agreements with the appellant. these hire-purchase agreements stated that the .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : (1993)105PLR449
..... goods are let on hire and under which the hirer has an option to purchase them in accordance with the terms of the agreement ..... pur 3359, which were mentioned in the hire-purchase agreements were in fact the property of the appellant company. in the light of this statement, it is not possible to hold that the hire-purchase agreements were valid documents. a hire-purchase agreement has been defined in section 2(c) of the hire purchase act, 1972, as under:-'hire-purchase agreement 'means an agreement under which ..... any authorisation by the appellant company or by its board of directors, sharvshri gurdial singh longia and amar singh could not enter into any hire purchase agreement with the petitioning companies. the hire-purchase agreements and per se invalid and unenforceable. it is unfortunate that the fact which is patent on record and incontrovertible was not pressed before ..... year 1972 till april 11, 1980 and thereafter birender singh bala son of bachan singh bala took over the charge as managing director. roopnagar credit and investment pvt. ltd. ropar, m/s. bachan motor financers pvt. ltd., ropar and m/s. bala financers pvt. ltd., ropar entered into hire-purchase agreements with the appellants, these hire purchase agreements stated .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : IV(2005)ACC345; 2006ACJ1689; 2005(5)ALD237; 2005(4)ALT669
..... the ownership of the vehicle continues with the s.b.i. by virtue of the said 'hire purchase agreement'. learned counsel had drawn the attention of this court to the definition of 'hire purchase agreement' under the provisions of the hire-purchase act, 1972 (act no. 26 of 1972) (for short 'the act').3. per contra, mr. narender reddy, learned counsel would maintain that merely because the loan ..... was advanced for purchase of motor vehicle, which is under hypothecation, it cannot be said that the s. ..... of order 1 rule 10 of the code to claims under the m.v. act in p. sujathamma v. g.m. siva prasad and annamma v. accident claims tribunal3. strong reliance was placed on the definition of 'hire-purchase agreement' under section 2 of the act. the hire purchase act, 1972 came into force on 1st june, 1973 vide gsr 222 (e) dated 30th april ..... , 1973, but the notification was rescinded by gsr 288 (e) dated 31st may, 1973 and the act was made effective from 01-09-1973 but this notification was .....Tag this Judgment!
Court : Orissa
Reported in : AIR1995Ori199
..... had no right to take possession of the truck by seizing it in view of the bar laid down in section 20 of the hire-purchase act, 1972 (in short, 'the act'). both the contentions require careful examination.6. coming to the question of territorial jurisdiction, it is necessary to refer to section 20, ..... is concerned, it is necessary to refer to sections 18, 19 and 20 of the act. section 18 deals with the rights of a owner to terminate hire-purchase agreement for default in payment of hire or unauthorised act or breach of express condi-tions. sub-section (1) thereof says that where a ..... marked exts. a and b series. on a consideration of the evidence, the trial court held that the truck in question had been purchased on hire-purchase agreement and while the defendant was the owner, the plaintiff was the hirer. it was also found by it that the claim of the ..... district judge went wrong in his finding that the courts at jaypore had no territorial jurisdiction inasmuch as both the parties indirectly agreed in the hire-purchase agreement to oust the jurisdiction of the courts at jaypore by vesting exclusive jurisdiction with the court at rajamundry. according to the learned counsel, ..... hirer makes more than one default in the payment of hire as provided in the hire-purchase agreement then, subject to the provisions .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 153CompCas674(SC); (2010)228CTR(SC)440; 320ITR577(SC); JT2010(1)SC14; 2010(1)SCALE329; (2010)2SCC548; 187TAXMAN346(SC); 2010(1)LC387(SC)
..... government or local authority or other marketable securities of a like nature;(iii) letting or delivering of any goods to a hirer under a hire-purchase agreement as defined in clause (c) of section 2 of the hire-purchase act, 1972 (26 of 1972);(iv) the carrying on of any class of insurance business;(v) managing, conducting or supervising, as foreman, agent or in any other ..... three years 30more than three 50yearsiii) sub-standard a general provision of 10% ofassets total outstandingsshall be made.lease and hire purchase assets(2) the provisioning requirements in respect of hire purchase and leased assets shall be as under:hire purchase assets(i) in respect of hire purchase assets, the total dues (overdue and future instalments taken together) as reduced by(a) the finance charges not credited ..... facilities (including accrued interest) made available to the same borrower/beneficiary when any of the above credit facilities becomes non- performing asset:provided that in the case of lease and hire purchase transactions, an nbfc may classify each such account on the basis of its record of recovery;(xiii) 'owned fund' means paid up equity capital, preference shares which are ..... the assessing officer(ao) for computing the total income under the it act, which is not for use of rbi or roc.5. for the accounting year ending 31.03.1998, assessee debited rs. 81,68,516/- as provision against npa in the p&l; account on three counts, viz., hire-purchase of rs. 57,38,980/-, bill discounting of rs. 12, .....Tag this Judgment!